Following are moves you might have missed. Find out what’s going up, what’s going down and whether our traders would double down, fade or run in the other direction!
Morgan Stanley
The catalyst: Although there’s no clear catalyst, of all the banks, Morgan Stanley tends to sell off sharply as concerns about Europe intensify.
The trade: It’s becoming all about technicals, says Joe Terranova. If it break $11.58, the Oct low I think it could trade down to $10.
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Home Depot
The catalyst: As investors seek returns, the stock could be attracting money for its 2.3% dividend yield.
The trade: I think it continues to grind higher, says Jon Najarian.
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Cheniere
The catalyst:Barron’s said Chief Executive, Chairman and President Charif Souki sold 130,000 shares of Cheniere for $1.9 million, an average of $14.77 each.
The trade: I added to my position based on technicals but it’s a high beta name, says Steve Grasso.
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Joy Global
The catalyst:Jefferies cut their EPS estimates on the company after Chief Executive Mike Sutherlin said that a slowing international market, both in Europe and in China, means that near-term order rates are expected to moderate and revenues could flatten.
The trade: It’s not a good story, says Simon Baker.
